SL Green promotes Holliday to additional post of president.

SL Green Realty Corp. has announced the promotion of chief investment officer Marc Holliday to the additional position of president, effective at the end of March, when David J. Nettinga leaves the firm. It also announced that Lehman Brothers managing director Michael Reid has joined the senior management team of the company as chief operating officer.

Holliday has been the main architect behind SL Green's focused business plan that featured the repositioning and strategic upgrading of the portfolio to larger avenue properties with higher quality tenants, while at the same time driving exceptionally strong earnings performance and growth in shareholder value. Holliday implemented this plan by overseeing a diversified strategy involving selective acquisitions and dispositions coupled with successful joint venture initiative and structured finance program.

Under Holliday's investment guidance, SL Green Realty has grown to be one of the largest owners of commercial office properties in Manhattan with ownership interests in 25 buildings comprising over 10 million square feet.

While continuing to concentrate on the company's investment activities, Holliday's increased responsibilities will include developing corporate strategies to increase shareholder value and working closely with Reid on long-term capital planning.

"Marc has been the key catalyst in the tremendous earnings growth that SL Green has achieved over the past two years," said Mr. Green. "As the largest individual shareholder I am confident that Marc's long term commitment will ensure our extraordinary earnings growth and value creation over the next decade."

Reid will report directly to Chairman and Chief Executive Officer Stephen L. Green and will oversee finance, capital markets activity, investor relations and corporate administration.

In addition he will work closely with Holliday on the planning and implementation of new strategic initiatives.

Prior to joining SL Green Realty, Reid was a Managing Director at Lehman Brothers in the Global Real Estate Department. As head of the Real Estate Group's Equity Practice since 1993, Reid has become one of the leading investment bankers in the real estate industry.

He led SL Green Realty's highly successful IPO in 1997 and has been involved in over $7 billion in equity offerings, including 10 lead managed IPO's for some of the industry's leading companies. In his over 17 years in investment banking, Reid has also been involved in over $8 billion in mortgage and unsecured debt transactions, as well as a full range of strategic and corporate advisory assignments.